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W. Africa Crude-Bonny Light pipeline fixed, coronavirus weighs

Published 28/01/2020, 18:54
© Reuters.  W. Africa Crude-Bonny Light pipeline fixed, coronavirus weighs

LONDON, Jan 28 (Reuters) - Spot demand was slim owing to the

Chinese New Year holiday along with fears the coronavirus will

dampen fuel needs in China, a major West African crude buyer.

* Asian jet fuel prices have dropped and refiners' profits

for the product have slumped to the lowest in more than 2-1/2

years, while industry analysts are cutting their 2020 forecasts

for jet fuel and overall oil demand. * Nigerian oil producer Aiteo has repaired the Nembe Creek

Trunk Line which transports Bonny Light crude, traders said.

Aiteo did not immediately respond to a request for comment.

* Shell, which operates Bonny Light exports, has not yet

lifted force majeure, the traders added. Shell did not

immediately have a comment.

* About 20 March-loading Angolan cargoes are still unsold, a

trader said.

* Sonangol was still offering a cargo each of Dalia and

Girassol, a source said. The Dalia was last being offered at

more than dated Brent plus $2.50 and Girassol at close to dated

Brent plus $3.90.

TENDERS

* India's HPCL issued a buy tender for crude cargoes loading

March 10-20. The tender bids remain valid until Jan. 31.

* Indonesia's Pertamina issued a buy tender for crude for

April 15-17 or 8-10 delivery depending on the port. Bids are due

by Jan. 30 and remain valid until Feb. 3.

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